New York Stock Exchange To Reopen Tomorrow

Oct 30 2012 | 12:55pm ET

With New York City and its surrounding area still reeling from the impact of Hurricane Sandy, the New York Stock Exchange said it planned to open as normal tomorrow.

"As of now, we are shooting hard to open tomorrow and fully expect to do so," NYSE Euronext chief operating officer Larry Leibowitz said. The company is also testing its contingency plan "just in case" it is unable to open at 9:30 a.m.

The Big Board looks to be about the only thing that will reopen in Manhattan tomorrow, and could do so in a dark, deserted area. Lower Manhattan was among the hardest-hit areas, with power outages and floodwaters lapping at the end of Wall Street. Schools will remain closed tomorrow and the city's subway system could remain out of service until next week. In addition, commuter rail lines serving the city's suburbs, home to many Wall Street employees and hedge funds, suffered serious damage. Several of the vehicular tunnels into Manhattan are also flooded and could be out of service for days, and the region's airports remain closed.

Indeed, the worst-hit parts of the tri-state area may well be the suburban areas of Long Island and New Jersey. Beach communities in both areas were devastated by Sandy's storm surge, and almost all of Long Island remains without power. More than one million customers along the key stretch of New Jersey from Philadelphia to New York are without electricity, and hundreds of thousands of customers in New York City are also without lights. All told, some six million people are without electricity as a result of Sandy.

At least 26 people were killed by the storm, including at least 10 in New York City.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.